Amidst major macroeconomic uncertainties, it can be challenging to identify the top-performing tech stocks that are poised for long-term growth. However, Nokia Oyj (NOK), a global leader in network infrastructure and telecom solutions, seems to be an attractive investment now. In this article, I will discuss the reasons why I am extremely bullish on this stock.
NOK repurchased 320,000 of its shares at an average price of €4.35 ($4.68) per share on March 21, 2023, at a total cost of €1,390,688 ($1,494,628). Following the transaction, NOK held 50,064,592 treasury shares. The repurchase is part of NOK’s share buyback program, which aims to return up to €600 million ($644.84 million) of cash to shareholders over two years.
The company has completed its first phase of the buyback program, under which it repurchased 63963583 of its shares at an average price per share of approximately €4.69 ($5.04). The program’s second phase started on January 2, 2023, and will end no later than December 21, 2023, with a maximum aggregate purchase price of €300 million ($322.42 million).
Also, NOK pays an annual dividend of…
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